The Yuan’s Rise as an International Currency
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China’s share of total payments processed on the Swift network continues to edge up. As of February 2015, the yuan accounted for 1.8 percent of total payments, up from 1.4 percent a year earlier. That makes the yuan the seventh most used global currency, fractionally behind the Canadian dollar and the Swiss franc. The jump to overtake the Japanese yen, which accounts for 2.8 percent of global payments, may take a while longer.
